Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,495 shares of the casino operator’s stock after selling 745 shares during the quarter. Wynn Resorts comprises about 0.6% of Prosperity Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest position. Prosperity Wealth Management Inc.’s holdings in Wynn Resorts were worth $1,507,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AGF Management Ltd. purchased a new position in shares of Wynn Resorts in the 4th quarter worth $2,402,000. Wealthfront Advisers LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth $5,457,000. Marathon Trading Investment Management LLC purchased a new position in shares of Wynn Resorts in the 4th quarter worth $732,000. Independent Advisor Alliance raised its position in shares of Wynn Resorts by 1.4% in the 4th quarter. Independent Advisor Alliance now owns 17,383 shares of the casino operator’s stock worth $1,498,000 after buying an additional 232 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Wynn Resorts by 5.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 12,713 shares of the casino operator’s stock worth $1,095,000 after buying an additional 655 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on WYNN shares. Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Trading Down 1.2 %

NASDAQ:WYNN opened at $87.38 on Wednesday. The stock has a 50 day moving average of $85.43 and a 200-day moving average of $88.54. The firm has a market capitalization of $9.30 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.